Tag Archives: GRC

Gridcoin is a new peer-to-peer math-based cryptocurrency, which processes transactions cryptographically without any central authority. It aims to provide benefits to people by compensating coin miners for taking part in Berkeley Open Infrastructure for Network Computing (BOINC) projects. This may lead to progresses in science, mathematics, biology, medicine, astrophysics and climatology by contributing a huge portion of computational power towards the BOINC research. Gridcoin rewards the BOINC computation with the use of Distributed Proof of Research mechanism, a combination of Proof of BOINC and Proof of Stake. The Gridcoin network does not utilize Proof of Work (POW) mechanisms, which makes it more energy efficient than POW cryptocurrencies. Gridcoin [GRC] casinos will be more and more popular in the next years.

If someone mines Gridcoins without using the BOINC software, the reward is 5 Gridcoins. However, if someone mines Gridcoins while the BOINC software is running, the reward can be up to 150 Gridcoins. Gridcoins aim to combine peer-to-peer cryptocurrency and BOINC, which is a scientifically distributed computing, in order to aid all the branches of science.

Distinctive Features of Gridcoin

Gridcoin is not only profound in terms of the application of computing power to solve real scientific problems. It also has distinctive features, which makes it more accessible to everyone. Unlike Bitcoin, Gridcoin can be effectively mined with consumer-grade hardware. Therefore, you can use your home computer in mining and get Gridcoins for it. On the other hand, Bitcoins can only be mined with a specialized hardware. Another distinct feature of Gridcoin is its energy efficiency. The code of the GRC network provides a 50% reduction in energy consumption compared to Bitcoin, which means less heat and energy is needed in producing a reward. This helps decrease the environmental effect of creating the cryptocurrency.

Aside from these distinct features, Gridcoin is actually user-friendly. It gives ease of entry in every part of the coin’s environment. People who are interested in mining can make use of the YouTube tutorial set up on the official website of Gridcoin. It also provides clear instructions for those who would like to participate as investors, and for researchers to use the system in pursuance to computing power for their projects.

Gridcoin allows fast peer-to-peer transactions, global payments and relatively low processing fees. Since it is open-source, everyone is allowed to participate in the improvement of this cryptocurrency. The network processes speedy transaction confirmations at an average of 2.5 minutes, and it utilizes memory intensive scrypt based POW algorithms in verifying transactions.

Gridcoin in Bitcoin Casino

Apart from scientific purposes, Gridcoins are also used in Bitcoin casino sites. Gridcoin [GRC] casinos are becoming more and more popular. With its distinct and useful features, there is a huge possibility that Gridcoin will become more popular in the world of cryptocurrency, and we hope to hear more the term “Gridcoin [GRC] casino” just like we hear more and more the term “Bitcoin casino”.

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